JLL Arranges Two Loans Totaling $39.7M for Refinancing of Rhode Island Multifamily Properties

PAWTUCKET AND NORTH PROVIDENCE, R.I. — JLL has arranged two loans totaling $39.7 million for the refinancing of a pair of multifamily properties in Rhode Island. In the first deal, the firm arranged a $20.5 million loan for The Village Lofts, a 149-unit complex in Pawtucket. The property features an average unit size of 929 square feet and amenities such as a fitness center, game room and onsite laundry facilities. In the second transaction, JLL placed an $18.2 million loan for Greystone Lofts, a 150-unit community in North Providence that was built in 1900 and converted to multifamily in 2008. Peter Rotchford, Scott Aiese and Alex Staikos of JLL arranged both fixed-rate loans through J.P. Morgan on behalf of the borrower, Urban Smart Growth.